SHRIRAM SMART SURAKSHA CARD - Suraksha apni jeb mein

Know More

You might have queries related to either your policy or general insurance. Here is a list of FAQ’s to serve you better. If you have any other query that is not addressed here, we would be happy to assist you. Please call 1800-108-6116 / 1800-103-6116.

Policy Related

Life insurance is designed to protect you and your family against financial uncertainties that may arise due to the unfortunate demise of the working members of your family.You can also view it as a comprehensive financial instrument –as part of your financial planning, your savings and investment along with cover against financial loss. By choosing the right policy as per your needs i.e. customized solutions, you will be able to plan for a secured future for yourself and your loved ones.

There are several benefits of buying insurance. Other than the risk cover, the most important benefit is your eligibility to receive Income Tax Relief, which means, premiums paid by you, reduce your tax liability. (Refer to Central Board of Direct Taxation rules for more details).

Besides, it helps you build up compulsory savings.

Also through a valid nomination / assignment, the beneficiaries of the policy are protected from claims of creditors. Life insurance policies can also be a great source of help as security while availing of loans. Surrender option is also available for cash benefit in case of emergencies.

For a policy taken under the MWP Act 1874, (Married Women’s Property Act), a trust is created for wife and children as beneficiaries and constitutes a separate property, for which the life assured is not required to pay property tax.

To get a duplicate physical copy of your policy document, you need to visit any Shriram Life Insurance branch with the following document:

  • Notarized copy of an indemnity bond printed on stamp paper of Rs. 100/-. Cheque/ Demand Draft of Rs. 100/- (towards reprint charges) in favour of Shriram Life Insurance Company Ltd.

What are Life Insurance Riders?

A rider is an add-on to the primary policy, which offers benefits over and above the policy subject to certain conditions. Life insurance riders are contingent additional benefits over a base policy, which come into play in case of a specific eventuality. They offer financial cover over and above basic sum assured in a life insurance policy for a nominal additional rider premium.

What are the different kinds of life insurance riders?

There are a variety of riders to suit needs of individuals. Some of them have been listed below:
Critical illness rider : The policyholder is entitled to receive financial benefits on being diagnosed with the critical illness.
Disability rider : The policyholder receives benefits on being afflicted with a disability covered by the rider
Accidental death benefit rider: The policyholder receives benefits on an accident leading to death
Term rider: Provides benefits to nominee on death of life assured.

SLIC offers the following riders:

  • Accident Benefit Rider
  • Shriram Extra Insurance Cover Rider
  • Shriram Critical Illness Cover Rider
  • Family Income Benefit Rider

A Rider can be added at the time of purchase of the policy and deleted at any time during the policy term as per the choice coinciding with policy anniversary.

Benefit Illustration shows the client the nature of the product, its benefits and under what circumstances the benefit will be paid. It also distinguishes between guaranteed benefits and non-guaranteed benefits. The benefit illustration documents show the details of charges and growth of the fund expected over the duration of the policy.

Yes, pregnant women are covered in the policy subject to the conditions & merits of the profile

Policy Servicing Related

You can change your contact details in your policy through any of the following options:
Branches: Visit any SLIC branch, submit an application letter for address change along with a signed copy of your new valid address proof.
Email Us: You can send us an email from your registered email id for address change along with an application letter and a signed scan copy of your new valid address proof to
Courier To HO: Fill in your details in the Change in Address form and send it along with signed copy of your valid Address Proof(i.e. Passport, Aadhaar Card etc ) to:

The Grievance Department
Shriram Life Insurance Company Limited,
Ramky Selenium, Plot No. 31 & 32,
Beside Andhra Bank Training Centre,
Financial District, Gachibowli,

You can update your Aadhaar/PAN number through the following option –
Branch – You can visit any SLIC branch to update your Aadhaar / PAN and submit a self attested copy of your Aadhaar/PAN

Nomination is required because the nominated person claims the amount from the Life Insurance Company in case of the death of the Life Assured.

You can make or change nomination anytime during the policy term of your active policies by submitting a nominee change request form along with an application letter. Please do carry a copy of nominee KYC document. In case, you have not added a nomination during policy application, you must add a nomination for easy settlement of claims.

Mode change can be done for active policies, effective from the date of policy anniversary. The customer has to give the request at least 90 days prior to the date of policy anniversary.

Mode change can be done for active policies, effective from the date of policy anniversary. The customer has to give the request at least 90 days prior to the date of policy anniversary.

You can get your Premium Paid Certificate through any of these options:

Website: To view or download your Premium Paid Certificate, click on the below link and enter your policy number and date of birth.

Customer Login: Log in to your online account and follow the below mentioned steps:

  • Click on Premium Paid Certificate
  • Select the policy number
  • Select financial year and submit.

Call Us: You can call us on 1800 103 6116 from Monday to Saturday, 09 AM to 7 PM and give request for Premium Paid Certificate. After verification we shall send Premium Paid Certificate to your E-mail ID / Communication address as per our records.

E-mail Us: You can send us an email request at . After verification we shall send Premium Paid Certificate to your E-mail ID / Communication address as per our records.

SLIC Branches: You can request for your Premium Paid Certificate at any of our branches.

You can also get your revival/ renewal quotation through any of these options:

Call Us: You can call us on 1800 103 6116 from Monday to Saturday, 09 AM to 7PM and give request for revival/ renewal. After verification we will send revival/ renewal quotation to your E-mail ID / Communication address as per our records.

E-mail Us: You can send us an email request at below mentioned E-mail ID.

SLIC Branches: You can request for your revival/ renewal quotation at any of our branches.

If you discontinue your payment of the premiums after paying for at least three or two years as the case may be, your policy benefits will reduce proportionately depending upon the conditions of the policy which you have taken. Such reduced value of the policy is called ‘Paid – up Value’ The paid-up value shall be paid at the end of policy term or on death within the policy term whichever is earlier.


  • A paid up policy can also be surrendered at any time during the policy term.
  • The paid up value shall exclude all the survival benefits paid.

If the premiums are not paid for the minimum period of 3 or 2 years as the case may be and if the subsequent premium is not paid within the grace period then the policy will lapse and no benefits will be payable under the policy. Such policy can be revived within revival period allowed under the policy by paying the arrears of the premium and the declaration of good health to the satisfaction of the insurer. If the policy is not revived within the revival period as stated above, the policy stands terminated and no benefits are payable

You can apply for loan on your traditional policy after completion of lock-in period and depending upon policy terms & condition. For details, please refer the loan section of your policy document. To apply for a loan, you can visit any of our branches.

You can disclose additional information about yourself, after issuance of your policy, by sending us a letter. This information can be related to medical conditions, occupational change which may have an impact on your health, insurance cover with other companies, change in habits, change of residential status to NRI, etc.

You can submit letter through any of the following option:

SLIC Branches: You can submit letter at any of your nearest SLIC branches.
Courier to HO: You can post or courier letter to HO.

Shriram Life Insurance Company Limited,
Ramky Selenium, Plot No. 31 & 32,
Next to Andhra Bank Training Centre,
Financial District, Gachibowli, Hyderabad,
Telangana, India – 500032

Policy assignment is a method of transferring all benefits and rights under a life insurance policy to another person or institution. Assignment or transfer of a life insurance policy may be made by serving a notice of assignment in the prescribed format to the new insurer. And the new insurer will affect assignment by making an endorsement to that effect in the policy document. For assignment, please visit nearest SLIC branch.

No. The assignee will have to reassign the policy in your favour, to enable you to have the right to deal with the policy.

The additional benefits, over and above the benefits available under the insurance policy, that a policyholder may be entitled to at an extra cost are called Add – on Benefits or Riders.

SLIC offers you following riders :

  1. Accident Benefit Rider
  2. Extra Insurance Cover
  3. Critical Illness Cover
  4. Family Income Benefit

  • You can create a login to yourself by clicking on the “Login “button on the right end corner of the landing page.
  • A sign in page will appear, click on the “Create Account” Link for the New User registration.
  • New User Registration form will be displayed.
  • Select Sign Up as “Customer” for the Customer Login.
  • Login Id can be given as per the customer convenience.
  • Enter all the fields which are mandatory.
  • Click on the “Register “button.
  • You will get a “Successfully Registered “message and you can login with your credentials to avail the online services.

  • You can retrieve the password yourself by clicking on the “Login “button on the right end corner of the landing page.
  • Click on the “Forgot Password” link and you will be redirected to the respective page.
  • Enter your Login Id and the Email-Id that you have entered during your registration.
  • Click on the “Proceed” button and the unique password will be mailed to your registered Email–id.

Fund Related

The Fund Value is only available in ULIP products. The value of policy is the fund value. In simple terms, it is the total value of units that you hold in funds. Fund value is the sum of the products of number of units in each of the funds and the NAV of respective fund.

The ‘Fund Statement’ is a document which gives information related to the equity, debt and balanced funds you invest in. It also includes the concepts of Asset Allocation to help you get the most out of your investment over the policy term. If you need the fund statement, you can procure it by any of the following options
Call Us : You can call us on 1800 103 6116 and request for the fund statement
Branch : It can also be procured from Branch
Web portal: If you are a registered user, then you can download the same from the Shriram life Webportal

Fund switch is a feature of your ULIP policy through which you can transfer the current funds linked to your policy to another fund of your choice.. For some products the fund switches are free of cost, whereas, in some other products, 2 switches in a year are free and any subsequent switch is chargeable. Fill the fund switch request form and submit it at any of our SLIC branches.

Lock-in period is for five years (for plans issued on or after 01-Sep-2010) and three years (for plans issued before 01-Sep-2010) from the date of commencement of the policy, during which the proceeds of the discontinued policy cannot be paid by the company to the policy holder. Discontinued amount will be paid to nominee in the case of death or upon occurrence of any other contingency covered under the policy

You can check the fund value of your policy through your Login account.

  • Once you login-in, click on fund details
  • Click on policy number

Any part of the fund that is encashed / withdrawn by the policyholder during the period of contract is referred to as partial withdrawal. The partial withdrawals are allowed only after fifth policy anniversary provided all due premiums for the first 5 years have been paid. In case of minor lives assured, this facility is allowed only if the life insured attains age of 18 years.The minimum amount withdrawn each time should be at least Rs.10,000/- For every partial withdrawal, a partial withdrawal charge of Rs.100/- will be levied.

Payouts Related

Maturity Benefit is the amount of money received by the insured, upon survival of the term of the policy. Maturity benefits will vary for Conventional and Unit Linked Policies. It also differs from product to product. If your policy offers a maturity benefit, then at the end of your policy term, a maturity benefit will be paid to you provided all due premiums on the policy have been paid.To get maturity value of your policy, you can visit any of our branches with the following documents:

  • Maturity Form
  • Original Policy Document
  • Signed copy of ID & address proof of policy holder.
  • Bank cancelled cheque/ passbook copy in which you wish to receive the surrender amount.

Survival Benefit is payment of the Sum Assured in a specified number of instalments through the term of the policy. At the end of the policy term, the maturity amount is reduced by the amounts already paid. Balance amount will be paid along with Vested Bonuses. However, if death occurs during the policy term, the Sum Assured is paid in full without any deductions, along with the Vested Bonus.

If you are not satisfied with the ‘Terms and Conditions’ of the policy, the policy can be returned to the company for cancellation with reasons thereof within 15 days from the date of receipt of the original policy document.If your policy is sourced through distance marketing, you have a period of 30 days.

To cancel your policy within free look period you can visit any of the SLIC branches and submit:

  • An application letter mentioning reason for cancellation
  • Original policy bond
  • Bank cancelled cheque/ passbook Xerox.

Premium Related

You can pay your policy renewal premium through any of the below modes

  • Cash/Cheque/DD at nearest Shriram Life Branches
  • Online at “Quick Pay” on our website (by Net Banking, Credit Card, Debit Card, UPI, Wallets, NEFT)
  • Online at “Quick Pay” on Shrimithra Mobile App ( by Net Banking, Credit Card, Debit Card, UPI, Wallets, NEFT)
  • Over the counter of ICICI Bank, Axis Bank, Common Service Centers (CSC)
  • Bharat Bill Payment System (BBPS) on major UPI digital app (Google Pay, PhonePe , BHIM, Amazon Pay, iMobile, Payzaap, MobiKwik etc) & Cash at BBPS counter
  • By registration in Auto debit (NACH & SI on credit card).

Click here to know more.

We offer you a grace period for non-payment on the due date. This grace period is 30 days from the due date in case premium payments are made on a quarterly, half-yearly or yearly basis and 15 days from the due date for monthly payments. During this period the policy remains in full force and no interest is charged. If you fail to pay a premium during the grace period, your policy will become lapses but can be revived by paying all unpaid premiums.

A lapsed policy can be revived during the lifetime of the assured, but within a period of 2 or 5 years (based on products approval from IRDA) from the due date of the first unpaid premium and before the date of maturity. The revival of a lapsed policy is considered either on non-medical or medical basis depending upon the age of the life assured at the time of revival and the sum to be revived. 

You can pay premium via NACH (National Automated Clearing House) by submitting the duly filled NACH mandate form along with a cancelled Cheque at any Shriram Life Insurance Branch or Divisional Offices or hand it over to agent. You can also register NACH mandate online. This facility enables to set up auto-debit instructions on your bank account for regular debit of your premium amounts depending on your premium due date.
Click here to submit the online NACH registration.

In ULIP policies, top-up premium is an additional premium that is paid by the policyholder besides the regular basic premiums specified in the contract. All due premiums must be paid before payment of a Top up. A premium allocation charge of 2% of Top up premium will be deducted from such lump sum and the balance will be allocated for units. However, such lump sum payment should be at least Rs 5,000/-per payment. Each top up premium shall be considered as single premium and shall have insurance cover at 125% of top up premium. The minimum sum assured shall be based on the age at payment of top up premium and not on the entry age. Top up premiums once paid cannot be withdrawn from the Unit Fund for a period of 5 years from the date of payment of Top up premium except in case of complete surrender of the policy. Top up premiums are not permitted during the last 5 years of the policy. At any point of time the total top up premiums paid shall not exceed the sum total of regular premiums paid. No discontinuance charges will be levied on Top up premiums.

Claims Related

A death benefit is a payout to the nominee/beneficiary of a life insurance policy, annuity or pension when the insured or annuitant dies.

The death claim is paid to:

  • The nominee, as declared by you in the proposal form.
  • The legal heirs, in case you have not specified the nominee.
  • The appointee named by you, in cases where the nominee is a minor at the time of claim.
  • The assignee in case there is a registered assignment.
  • The Karta, if the policy is issued under the HUF Clause.
  • The Trustee, if policy is issued under the MWP Act.

When a life assured dies, a claim intimation should be sent to our company as early as possible. The assignee or nominee under the policy can intimate the death claim.
Documents required for making a death claim are:

  • Filled-up claim forms
  • Certificate of death
  • Original Policy document
  • Deeds of assignments/ re-assignments (if any)
  • Legal evidence of title, if the policy is not assigned or nominated
  • Form of discharge executed and witnessed (Since the inception of NEFT payments, Discharge form requirement has been stopped)
  • Complete Bank Details of the Beneficiary.

Other documents such as hospital certificate,FIR report, post mortem report etc could be called for, as applicable.

If your documents are complete and we need no further documentation, we settle your death claim within 30 working days. In case the claim requires further investigation, the same will be completed by us within a reasonable time.

You can intimate a claim through below mentioned options:

  • Call us at 040-23009400 Ext 664 (Monday to Friday 09:00 am to 05:00 pm)
  • Visit your nearest Shriram Life Insurance branch
  • E-mail us at

When a life assured dies, a claim intimation should be sent to our company as early as possible. The assignee or nominee under the policy can intimate the death claim.

Ans:- In case of more than one nominee, KYC documents of all nominees along with death claim required documents need to be submitted at the time of claim.

The original Policy Document is mandatory for processing any claim; however if the same is lost or misplaced we may call for some indemnity bond or alternate document / s and the claim is processed further.

Yes. Death due to terrorist attack / war / natural calamities is covered under basic benefit in life insurance policy (unless specifically excluded in Policy Contract) and the claim is settled if all the documentation is in order and all the conditions are fulfilled.

The nominee/ beneficiary has to first approach the ICRC (Internal Claims Review Committee) of SLIC, in case of a claim dispute. In case the nominee is not satisfied by the response, the nominee/ beneficiary may write to the Grievance Redressal Cell of IRDAI. The issue will then be taken up with the concerned Insurance Company.

If the complainant is looking for a judicial decision in respect of claims, he or she may approach the Insurance Ombudsman. For more information on the Insurance Ombudsman, please refer your Policy Document.

In such case, the proof of title/succession certificate issued by a competent court will have to be submitted by the claimant. The claim would then be paid to the person specified in the said proof. Such a condition is called ‘Open Title’ situation.

If nominee dies during the policy term, then life assured should nominate some other person in place of deceased nominee under section 39 of insurance act.

Below are some of the reasons for claims rejection

Lapsation status of policy on the date of incidence of claim, non-coverage of a particular event/loss as per policy conditions, loss not qualifying under the definition of loss either marginally or totally as per coverage definition, losses falling under exclusion.

GST Related

GST is an integrated tax, merging most of the existing indirect taxes such as Service tax, VAT etc into a single system of taxation. GST works on the concept of “One Nation One Tax”. This is one of the biggest tax reforms in India since Independence and has been implemented from July 1, 2017.

Yes, GST will be applicable to NRI customers, provided the consideration is not received in foreign exchange. In such case, IGST will be charged to NRI customers. Rate for NRI customers will be same as the Resident Indian customers.

Yes, GST is applicable on premiums of all insurance policies, except the following:

  1. Janashree Bima Yojana (JBY);
  2. Aam Aadmi Bima Yojana (AABY)
  3. Life micro-insurance product as approved by IRDA having a maximum amount of cover of Rs 50,000/-
  4. Varishtha Pension Bima Yojana
  5. Pradhan Mantri Jeevan Jyoti Bima Yojana
  6. Pradhan Mantri Jan Dhan Yojana
  7. Pradhan Mantri Vaya Vandan Yojana
  8. Any other insurance scheme of the State Governments as recommended by the GST Council.

The following are the existing product (category-wise) GST rates:

  • Term Plans/ Health Plans / Riders – 18%
  • ULIP Charges / Other Charges – 18%
  • First Year / Single Premiums – 4.50%
  • Renewal Premiums – 2.25%
  • Single Premium Annuity Plans – 1.80%
    * Subject to changes in tax laws. Same rates apply to Non-Resident customers (NRIs) as well.

If policy premium is due for payment on or after the roll-out date of GST, then GST will be applicable on premium. If the premium is paid in advance, there would be no implications under the GST law. However, for premium not paid or balance amount due, the same would be taxed at the GST rate.

Yes, the details of GST paid by the customer on premiums would be disclosed separately on the premium receipts issued under “Taxes and Levies as applicable.